Tsmt 


The  following  s 
Conf  Pam  #707 


IBank   of  Camden,   So.    Ca.,  i 

,Tuly    1,    1802.  ^ 

The  following  staleiiieul  and  explanatory  remarks  arc  submiUcd  for  the  information  of  ilio  St,ocl<iiol.l.Mv 
of  this  Bank,  viz  : 

Capital $4:.0.000  OOjSpecic i^^'JMir,   \:: 

Circulation, M.s.:)72   .'.o  Konl  Kslalc,     .  -         .  .  .  'sOUO  Oi, 


Deposits,       ......         Tl.i'iT  24 

Balance  duo  Banks  in  this  State,       .  1'2t\  Ij2 

oilier  States,      .  !<>  W 


Bills  ofotlier  Banks.    .         .         •         .  HJ,.")1-1   n 

Balance  t'roni  IJanks  in  tins  State.     .  *'>Mi  ''■- 

banks  in  other  Slates.  .         .         .  ■-';iO    U' 


Xet  profits  (appearing  on  the  book.s,  be-  jTreasnry  Notes,       ....  i;{, .:;.»  .>.• 

sides  interest  accruing  but  not  paid,)       T.SSO  01  .\uencies,  :!.'),2Si;  •!!• 

Note.« li'.--!'--*    '-^ 

Bonds — private.         i:i;i,0-'>  ■''- 
Sta'o.  0.000  On 

•■       Conrederatc,    20.0(0  01  — 

.'i  1.020  f-2 
Domestic  K.xchan^re,  liO.ori  lU 

Su.'^pended  ]Jel)t,  4:?0.:«25  M 


$(J79.00:i  rta 


JC.TJ.OO:?  «i 


The  magniiudo  of  the  suspense  account,  will,  doubtless,  attract  attenlion.  Payments  had  almost  entirely 
ceased,  and  the  alternative  was  to  renew  i.otes  indelinitely,  at  (5  per  cent,  discount,  involving  miicli  iueon- 
venience  to  all  jiartics,  or  let  all  paper  a.s  it  niattu-ed  pass  into  the  snspen.se  account  and  bc.ir  7  per  cent,  in- 
terest.     The  latter  course  was  deemed  beat,  and  lieticc  the  cxtraonlinary  amount  under  this  head. 

Our  Western  paper,  which  was  all  deumod  good,  being  nearly  all  drawn  by  responsible  planters  on  tliu 
best  houses  in  New  Orleans,  bears  h-om  8  to  10  percent,  by  contract,  and  amounts  to  about  .$100,000.  Our 
paper  here  is  all  considered  good,  and  can  only  be  made  otherwise  liy  a  di.sastrous  course  and  termination  ot 
the  war. 

The  accriung  interest  on  our  wliole  mts-;  of  p.iper,  will  ii?l  pro'iably  $40,000  by  the  1st  of  July  ISO."!, 
up  to  which  period  the  usual  dividends  of  8  per  cent,  p.-r  annum,  are  /).-<;-paid.  This,  with  the  profits  ap- 
pearing on  the  books,  and  interest  already  accruei,  say  .^40.000,  or  m  tre,  will  amount  to  $80,000  by  said 
ist  Jul^-,  18G3,  and  it  may  be  deemed  expedient  t()y>/x'-pay  the  dividend  for  Jtdy  ISO:). 

The  pre  payment  of  the  dividend  for  Juh',  instant,  an  V  J xananj  next,  was  an  extraordinary  proceeding, 
but  right  every  way,  being  vary  opportune  for  many  of  the?  stjckholder.s,  -.md  prudent  and  proper  for  other 
reasons.  Our  assets  are  good  for  three  times  the  amount  of  all  our  liabilities;  we  have  been,  and  will  con- 
tinue to  be,  ready  to  meet  all  current  demands  upon  ns;  the  amount  of  profits  on  the  1st  instant,  from 
which  the  next  January  dividend  was  pre-paid,  was  really  about  $GO,000— that  dividend  was  §!1 8,000,  leav- 
ing more  than  $40,0(.iO.  We  held  some  $70,000  of  Treasury  Kules,  besides  Bank  Notes  and  other  available 
means  adeciuate  to  meet  tlie  pro-paid  dividju  I,  an  I  all  tho  im'.n3diate  liab  lities  tint  we  may  reasonably  e.x:- 
pect  to  have  to  meet.  Our  notes  have  ceastd  to  return  upon  us  for  redemi)tion,  and  we  do  not  expect  that 
'■hey  will  be  returned  whilst  the  war  lasts,  and  Treaamy  Koies  c  mtiuue  to  increase  in  amount.  These  notes 
are  current  money— <7te  money— and  available  now  to  the  stock liolder.s  who  mostly  need  the  dividends  at 
this  time.  The  course,  therefore,  though  unusual,  was  right,  prudent  and  proper  every  way  to  all  parties— 
toward  the  country  and  the  creditors  of  the  Bank,  and  toward  the  owners  of  the  funds  divided. 

Save  the  amounts  heretofore  mentioned  in  our  circulars,  as  very  doubtful,  say  some  $8,000,  there  are  no  other 
debts  due  us  considered  as  in  that  condition,  if  the  war  should  now  terminate,  or  continue  without  over- 
whelming disasters  and  suhjajation,  or  ruin— io  one  or  the  other  of  which  conditions  it  is  the  fixed  and  dia- 
bolical resolve  of  the  enemy  to  reduce  us!  Should  the  war  end  now,  we  are  not  much  hurt,  and  would 
soon  recover  our  position,  and  again  prosper  with  the  prosperous  advance  of  the  grand  Soidhern  Confederacy. 
Our  taxation  for  nilcrest  of  a  debt  of  $400,000,000,  with  other  expenditures,  would  be  enormous,  but  the  ex- 
penditure would  be  made  at  home,  and  the  exhausti.ig  Tribute  to  Yankee-dom,  direct  and  indirect,  would 
then  have  ceased  forever. 

The  money  and  other  assets  of  the  Bank  have  been  counted  and  examined,  and  found  to  correspond  with 
the  books,  and  we  are  ready  at  a  minute's  warning,  upon  the  approach  of  the  enemy,  to  change  the  location 
ul  the  Bank,  and  have,  hy  2}rivate  circulars,  notified  all  depositors,  special  and  general,  in  case  of  interior 
invasion,  to  call  promptly  for  their  deposits.  Oiu-  notes  arc  carefully  counted  and  sealed  up,  under  the  seal 
(if  the  Board,  in  strong  boxes,  ready  for  burning  whenever  the  necessity  becomes  manifest. 

W.  E.  JOHNSON,  President. 
W.  II.  R.  WoKK.MAX,  Ca.shifr. 


c^. 


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